Analyst: Bitcoin is Forming a Grave Bearish Divergence on Its Macro Chart
Bitcoin has been struggling to hold above $19,000 following its latest rejection around its all-time highs The selling pressure at this level has proven to be quite intense, and it remains unclear as to when bulls will be able to surmount it For this region to be broken, Bitcoin’s buyers will first have to show some greater signs of strength, as they are currently struggling to hold the crypto above $19,000 A continued bout of […]
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The RSI is seeing higher lows after rebounding from its oversold areas as Bitcoin price is forming lower lows. A recent run-down in the Bitcoin (BTC) market faces the prospects of exhaustion before confirming a full-fledged bearish breakdown, so reflects a classic momentum-based oscillator.RSI forming higher lowsDubbed as Relative Strength Index, or RSI, the indicator measures the speed as well as change of directional price movements. It operates within a set range of numbers—between 0 and 100. The close is RSI to 0, the weaker is the price momentum. Conversely, an RSI reading near 100....
Bitcoin fast approaching towards a critical intersection of macro support, according to a crypto analyst. Critical Intersection Of Macro Support As pointed out by a Bitcoin analyst on Twitter, the cryptocurrency is coming closer to an intersection with a macro support curve. BTC macro support curve | Source: TheCryptoCactus The above chart showcases how Bitcoin […]
Bitcoin is currently hovering in a tightly compressed price range after failing multiple times to break above $110,000 earlier this month. The past few days have been characterized by the leading cryptocurrency trading around $105,000, with neither bulls nor bears taking control. Despite the overall consolidation, a subtle yet significant signal is starting to flash beneath the surface, particularly on the 4-hour chart, that might send Bitcoin to a new all-time high soon. Return Of Rare Divergence Pattern On Bitcoin’s 4H Chart Crypto analyst Luca (@CrypticTrades_) took to social media....
The Cardano price is currently eyeing an impulsive move to the upside following the invalidation of a bearish Relative Strength Index (RSI) divergence. In his analysis, crypto analyst Melika Trader revealed how high ADA could rally following this bullish channel formation. Cardano Price Eyes Impulsive Move To The Upside In a TradingView post, Melika Trader predicted that the Cardano price could rally to between $0.90 and $0.94 as it eyes an impulsive move to the upside. The analyst observed that ADA recently experienced a sharp rally, breaking through resistance levels and establishing a....
Bitcoin has continued its decline since starting the week with a bearish breakout from the weekend consolidation range seen in the 1H chart. During the April 14th session, price fell to about 216 before the global April 15th session began. As we can see in the 1H chart, there is a bullish divergence between price and the RSI (A bullish divergence occurs when price makes lower lows but the RSI makes higher lows). This suggests a shift in momentum, or at least a deceleration, which can be a sign of upcoming consolidation or bullish correction. Bitcoin (BTCUSD) 1H Chart April 15. The 1H chart....